How identity verification is saving money for online casinos

 It was only borrowed time before online games providers needed to improve their identity-checking standards

More and more people have access to the internet - and online casinos - than ever before. Therefore, it was only borrowed time before online games providers needed to improve their identity-checking standards. ID checking not only helps to protect the consumer but also the gaming provider.

Money laundering, fraud, and international legislation are huge concerns for casino operators. As laws on age verification and anti-money laundering (or AML) may differ from territory to territory, checks are crucial. Thankfully, legitimate casino providers are deeper involved with thorough ID checks than ever before.

Could ID checks help save money?

Ultimately, yes - a stringent ID checking system could help save online casino providers money. ID checks are essential for ensuring that players are old enough to play games. For example, advanced automated identity verification and AML screening for online gaming can help to smoothen out the process.

They are also crucial in helping ensure casinos only ever welcome players from participating territories. If a casino is not regulated or licensed by a specific body, some global players may not have legal recourse to take part.

ID checking is crucial for player safety. It ensures that a casino can carefully prevent fraud, money laundering and even protect their players. AML standards could effectively help ensure players also have support in terms of gambling limits. In some cases - depending on territory - casino providers may find they need to pay fines if their AML is poor.

This, for example, was undoubtedly the case for Casumo, who was fined by the Great British Gambling Commission in 2021. They had to pay £6 million for failings of responsibility - where some players lost money without blocks or support.

What’s the future of ID checking for online casino games?

Of course, as technology advances, so do ID checking methods. It is no longer a simple case of players ‘hoodwinking’ ID checks to start playing games. ID fraud detection and background checks are more stringent now in line with advanced fraud attempts - keeping a step ahead.

Compliance and regulation in the online casino industry have never been tighter. However, this is all in the name of protecting both company and the customer. Advanced ID checks such as multi-step authentication and wider data pooling help to offer casinos greater confidence. What’s more, these measures are barely intrusive. If anything, the modern consumer is growing used to automated checks and measures.

In addition, enhanced checks and ID requests are all to the greater confidence and satisfaction of the user. There are still many people who, while keen to play casino games, will still value keeping safe as the main priority. Regrettably, cybercrime is always likely to continue and to keep evolving. Therefore, players can rest easy that advanced standards are sweeping across the more prominent gaming brands and lounges.

ID checking at new online casinos shouldn’t ever be seen as inconvenient. If anything - it’s a great sign of things getting safer and more reputable for players to rely more prominent.